While underlying operating profits were flat, the release of a prior year’s VAT provision enabled an increase of £900,000 to be posted in 2011. Operating profits rose by just under £1m to £5.6m.
Market conditions were steady during 2011. Highland Spring retained its position as the number one sparkling brand, with a brand share of 13.2% by volume – more than double its nearest competitor.
Highland Spring Group sold 374.6 million litres of bottled water in 2011, producing 20.6% of the UK’s packaged water market. More than two thirds of bottled water market growth was directly attributable to Highland Spring Group.
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